France, Greece elect anti-austerity parties; Cognizant beats Street

PUBLISHED ON: May 7, 2012 | Duration: 26 min, 11 sec

France elects its first Left President in 17 years as Hollande beats Nikolas Sarkozy. Hollande had promised the electorate to start a pushback against the Germany-led austerity policies. The two pro bailout political parties in Greece - New Democracy and PASOK, suffered setbacks at the polls, performing worse than many anticipated. Meanwhile, growth for Cognizant Technologies is better than street estimates as first quarter revenue rose to $1.71 billion, up 2.3 per cent sequentially. But it has cut its growth for the year to 20 per cent from 23 per cent earlier.